Note how we opened the day lower, with more stocks ticking down than up in the first minutes of trading. Within a short period, however, we bounced to positive NYSE TICK readings and stayed above the (blue) zero line. When sellers finally did come into the market, we could not get TICK readings below -500 and could not get the Cumulative TICK back to negative. Unable to sustain selling pressure, we saw buyers come into the market with a vengeance.
I find that it rarely pays to bet against the Cumulative TICK line. When TICK readings are mostly staying above zero and cannot reach significant negative levels (-800 or lower), it's difficult for prices to sustain any retreat.
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